Press release
Global Lubricants Market 2026 Top Key players by: Exxonmobil Corporation, Idemitsu Kosan Co. Ltd, Sinopec Limited, Royal Dutch Shell PLC., Chevron Corporation, BP PLC., Amsoil Inc., Nippon Oil, Quaker Chemical Corporation, Fuchs Petrolub AG, Total S.A., a
Global Lubricants Market Trends, Share, Size and Growth By 2026
According to a new research published by Polaris Market Research the Lubricants Market is anticipated to reach over USD 169.4 billion by 2026. In 2017, the automotive segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
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The growing manufacturing industry, rapid industrialization, and modernization of industrial machinery drive the growth of this market. Other driving factors include growing automotive production, rising applications in mining industries, and increasing government initiatives to support industrial growth. However, high prices of bio-based and synthetic lubricants are expected to hamper market growth. Increasing demand from developing nations is expected provide numerous growth opportunities to the market players during the forecast period.
The demand for lubricants from the industrial sector has increased over the years. The increasing need for automation and strong growth in industries support the adoption of lubricants. In the industrial sector lubricants are used for various applications such as air compressors, transformers, heat transfer systems, auxiliary equipment, metal working, and natural gas compressors among others. Lubricants are also used in wind turbines, refrigeration, paper machines, quenching, and bearings.
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Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing growth of automation in manufacturing industries in the region coupled with high disposable income drives the market growth in the region. The rapid industrialization in China, Japan, and India, along with significant growth in transportation, construction, and mining industries would support market growth during the forecast period. The rising trend of bio-based lubricants, and increasing environmental concerns are expected to provide growth opportunities in the coming years.
The different applications of lubricants include industrial, automotive, and others. In 2017, the automotive segment accounted for the highest market share. The increasing demand of lubricants from automotive, marine, and aviation sectors has increased significantly over the years. The growth in automotive industry, especially in Asia-Pacific coupled with growing disposable income and improving living standards support the growth of lubricants in automotive sector.
The well-known companies profiled in the report include Exxonmobil Corporation, Idemitsu Kosan Co. Ltd, Sinopec Limited, Royal Dutch Shell PLC., Chevron Corporation, BP PLC., Amsoil Inc., Nippon Oil, Quaker Chemical Corporation, Fuchs Petrolub AG, Total S.A., and Luk Oil among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Some points from TOC :-
Lubricants Market Insights
Lubricants – Industry snapshot
Lubricants - Ecosystem analysis
Lubricants Market Dynamics
Lubricants – Market Forces
Lubricants Market Driver Analysis
Lubricants Market Restraint/Challenges analysis
Lubricants Market Opportunity Analysis
Industry analysis - Porter's five force
Bargaining power of supplier
Bargaining power of buyer
Threat of substitute
Threat of new entrant
Degree of competition
Lubricants Market PEST Analysis, 2017
Lubricants Market Value Chain Analysis
Lubricants Industry Trends
Competitive Ranking Analysis
About us Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
We mainly focus on aiding our customers with substantial competitive intelligence, helping them to secure a competitive advantage in the market and accomplish sustainable growth in different market domains. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Through dedicated qualitative and quantitative primary and secondary market research and consulting assignments, we adeptly formulate competitive strategies to address business challenges for our clients through analyzing market trends and emerging technologies.
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Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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